14-March-2026
Taxation
 
Relief for taxpayers: Tax additions cannot be based solely on statements recorded during inquiry, says ITAT
13-Mar-2026

A tax addition under Section 68 of the Income-tax Act cannot be sustained merely on the basis of statements recorded during departmental inquiries without allowing the taxpayer an opportunity to cross-examine the witnesses, the Income Tax Appellate Tribunal (ITAT) has held. In a case involving alleged unexplained cash credits, the tribunal ruled in favour of the taxpayer after finding that the tax department had failed to provide independent evidence to support the additions.

News Source:- https://www.financialexpress.com/money/relief-for-taxpayers-tax-additions-cannot-be-based-solely-on-statements-recorded-during-inquiry-says-itat-4170732/?ref=hometop_hp